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Since the beginning of this year, the photovoltaic industry has risen sharply, and the photovoltaic sector has also moved from a strong rise to a high sideways shock. Investors are increasingly discussing the trend of the sector. On December 8, the most expensive new stock in history with an issue price of 557.8 yuan per share has attracted more attention.
Public data shows that from 2018 to 2020, the operating income of Hemai shares will be 307 million yuan, 460 million yuan, and 495 million yuan, respectively, and the net profit will be 16 million yuan, 81 million yuan, and 104 million yuan respectively. In the first half of 2021, The company’s revenue was 318 million yuan, and the net profit was 79 million yuan. From the perspective of comparable companies, the majority of the market believes that Hemai shares are benchmarking against foreign rivals enphase, which is worth about US$30 billion in the US stock market, and the price of micro-inverters is higher.
The main business of Hemai shares is the research and development, manufacturing and sales of photovoltaic inverters, power conversion equipment and related products. The company’s products include micro-inverters and monitoring equipment. In the photovoltaic field, photovoltaic inverters are the core equipment of photovoltaic power generation systems located in the downstream of the industrial chain. Their function is to convert the direct current generated by photovoltaic cells into alternating current that meets the power quality requirements of the grid.
Benefiting from the continuous increase in the scale of the photovoltaic market, the stock prices of Sungrow, Goodway, Jinlang Technology, Jinko Technology and other related targets in the secondary market have risen this year. Among them, the stock price of Sungrow has been 67.83 yuan per share on December 31, 2020, to the closing price of 148.03 yuan per share on December 9, 2021, a cumulative increase of 118.24%.
The issuance price of Hermai shares of 557.8 yuan per share set the highest record for A shares. Prior to this, in August Yiqiao Shenzhou created the highest issue price of 292.92 yuan per share, and Hemai shares nearly doubled this record. If calculated on the basis of 500 shares in the first lottery on the Science and Technology Innovation Board, the investors who got the lottery Hemai shares paid up to nearly 280,000 yuan in full.
However, it is worth noting that although Hemai shares this public offering is only 10 million shares, due to the high issue price, the raised funds will be as high as 5.578 billion yuan. Behind the high issue price means a high price-earnings ratio. The price-earnings ratio of 557.8 yuan per share is 225.94 times, far exceeding the industry price-earnings ratio of 51.02 times. As of the close on December 9, there were only 7 stocks with A-share prices above 557.8 yuan.(Produced by Thinking Finance)■Return to Sohu to see more
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